Bloomberg, Susquehanna International Group, and Jump Trading have paid for access to Truth Social’s premium Truth API, giving them Trump’s posts faster than regular users, according to a Reuters exclusive that cited people with direct knowledge of the arrangements.
The Reuters report said Truth Social, the social platform founded by Donald Trump, signed deals with the three companies. Bloomberg is a financial news and data provider, while Susquehanna and Jump Trading are Wall Street firms known for algorithmic and automated high-frequency trading strategies.
Up to $100,000 a month for a 50-millisecond edge
Reuters said the service is priced at as much as $100,000 per month. The report did not say how much each of the three companies paid, and added that their purchases of the service had not been previously reported.
An API, or application programming interface, allows systems to connect directly and exchange data. Reuters said the product lets customers receive posts without repeatedly opening the app like a human user would. A Trump Media official described the time advantage as 50 milliseconds, or 0.05 seconds.
Companies declined comment; Trump Media called the report misleading
Bloomberg, Jump Trading, and Susquehanna all declined to comment. In a statement, Trump Media said Truth Social offers an 「industry-standard API product」 and that there is broad demand for such services across industries. The company also said it protects customer confidentiality.
Trump Media added that the Reuters story was based on 「misleading information spread by anonymous sources」 and said the aim was to harm the company, its customers, and its shareholders.
White House spokesperson Davis Ingle said Trump and his family do not directly participate in any portfolio decisions, but he did not answer questions about whether the president had improperly used his office. Reuters said it contacted Donald Trump Jr. and received no reply. Questions were then referred to the Trump Organization, which also did not respond.
Reuters, which competes with Bloomberg in financial news, said in its own statement that it would evaluate the service but has no current plans to subscribe.
Trump Media said in August it had signed more than 10 customers
According to CNBC, Trump Media announced Truth API on July 16 and launched the service on Aug. 1. Reuters reported that Trump Media told investors in August it had signed 「more than 10 customer contracts,」 mainly with Wall Street trading firms paying between $60,000 and $100,000 a month.
Trump Media did not disclose customer names, and Reuters said it could not verify that claim. At that price, one customer would pay $720,000 to $1.2 million a year.
Senators asked the SEC to investigate
Reuters said posts from a U.S. president can move asset prices sharply, which is why even a small timing gap may matter to trading firms and financial data providers. High-frequency traders use software to read headlines, company filings, and government statements, then read, analyze, and place orders within milliseconds, a shorter interval than 50 milliseconds. Reuters cited one example from April, when Trump posted on Truth Social that the Iran war had reached a ceasefire and oil futures fell shortly after.
Senators Elizabeth Warren of Massachusetts and Adam Schiff of California wrote to Securities and Exchange Commission Chair Paul Atkins on July 28, asking the agency to investigate whether the service violates securities law.
CNBC, citing the letter, said the senators described the arrangement as an 「outrageous abuse」 of presidential power 「for personal gain.」 They also asked the SEC to analyze before launch whether the service could run afoul of laws banning insider trading and market manipulation. The SEC declined to comment.
A Trump Media spokesperson said congressional Democrats had repeatedly distorted what Truth API is, and suggested they either oppose free markets on ideological grounds or do not understand the difference between public and non-public information.
Separate lawsuit is ongoing; Trump family trust holds 41%
Intercept Media and the Freedom of the Press Foundation, a nonprofit, also sued Trump in August. They asked the court to bar the White House from issuing official government announcements only on Truth Social while the paid service exists. The plaintiffs argued that putting government information behind a paywall may be unconstitutional and called the service 「deeply corrupt.」 The case is still ongoing.
Ingle did not directly address that lawsuit and said only that 「President Trump will act only in the best interests of the American people.」
Reuters also said the Trump family trust owns 41% of Trump Media and that Trump is the trust’s sole beneficiary. Citing SEC filings, Reuters said Donald Trump Jr. serves as trustee and holds sole voting power and investment authority.
Trump Media shares are down more than 50% this year. Its market value has fallen from about $8 billion at the close of its first trading day after listing in March 2024 to about $1.8 billion now, leaving it at less than one-quarter of that earlier level.
What is known about Truth API
- Announced: July 16
- Launched: Aug. 1
- Customer contracts cited by the company in August: more than 10
- Main customer group: Wall Street trading firms
- Monthly price range: $60,000 to $100,000
- Annual cost per customer: $720,000 to $1.2 million
- Speed edge described by Trump Media officials: 50 milliseconds
